G20 growth edged up in third quarter: OECD

Growth across the G20 picked up a bit in the third quarter, according to new data from the Organization for Economic Cooperation and Development (OECD).

The Paris-based group reported that, based on provisional estimates, GDP growth in the G20 came in at 0.7% for the third quarter, which was up slightly from the second quarter’s 0.6% growth rate.

On a year-over-year basis, GDP was up by 2.8% for the G20 in the third quarter, the OECD said — down slightly from the 3% annual rate posted in the previous quarter.

While headline G20 growth was relatively stable in the third quarter, the OECD said that results were mixed across the group.

For instance, it noted that growth picked up in China and Mexico in the quarter, but that it slowed in Canada and Japan, and remained stable in the U.S.

“Growth accelerated significantly in Mexico (from 0.4% to 1.1%) and China (from 0.5% to 0.9%),” it said, adding that Germany and Korea also saw growth return to positive territory in the third quarter, after downturns in the second quarter.

And, while growth rates slowed a bit in Canada and Japan, they slowed sharply in the U.K., Brazil and Saudi Arabia, it said.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.